Guaranteed Investment Certificate
Let us answer your questions about GICs and what we have to offer.
A GIC is a low risk investment that guarantees the rate of return so you won't lose your money. It is like a savings account that earns interest but you have to leave the money in the account for specific period of time.
Things to Know:
- Minimum $500 investment
- Terms range from 1 - 5 years
- Interest may be paid monthly or annually
A cashable GIC has a 1 year term but is cashable after 30 days with no loss of interest. If you cash it in prior to 30 days then no interest is paid.
||Non-redeemable prior to maturity
||Allows for full or partial redemption on the 12 month anniversary date
|5 Yr 20/20
||Allows for 20% of the original investment amount to be redeemed on the anniversary date